The BinaryWave_HTF_Signal indicator is a powerful tool designed for MetaTrader 5 that helps traders identify trend directions and generates signals using the BinaryWaveSign indicator. With its easy-to-read graphical representation, it visually indicates the trend or trade direction with colors and shapes. Plus, it provides alerts and audio signals to keep you in the loop.
When the trend persists at your selected bar, you’ll see a right arrow. The color of this arrow matches the trend direction. If there's a shift in the trend at that bar, a diagonal arrow will appear, with its color and direction reflecting the new trade direction.
The input parameters for this indicator can be divided into three main groups:
- BinaryWaveSign Input Parameters:
inputstring Symbol_=""; // Financial assetinputENUM_TIMEFRAMES Timeframe=PERIOD_H6; // Timeframe for indicator calculation//--- indicators weight. If zero, the indicator doesn't take part in the wave calculationinputdouble WeightMA = 1.0; inputdouble WeightMACD = 1.0; inputdouble WeightOsMA = 1.0; inputdouble WeightCCI = 1.0; inputdouble WeightMOM = 1.0; inputdouble WeightRSI = 1.0; inputdouble WeightADX = 1.0; //---- Moving Average parametersinputint MAPeriod=13; input ENUM_MA_METHOD MAType=MODE_EMA; inputENUM_APPLIED_PRICE MAPrice=PRICE_CLOSE; //---- MACD parametersinputint FastMACD = 12; inputint SlowMACD = 26; inputint SignalMACD = 9; inputENUM_APPLIED_PRICE PriceMACD=PRICE_CLOSE; //---- OsMA parametersinputint FastPeriod = 12; inputint SlowPeriod = 26; inputint SignalPeriod = 9; inputENUM_APPLIED_PRICE OsMAPrice=PRICE_CLOSE; //---- CCI parametersinputint CCIPeriod=14; inputENUM_APPLIED_PRICE CCIPrice=PRICE_MEDIAN; //---- Momentum parametersinputint MOMPeriod=14; inputENUM_APPLIED_PRICE MOMPrice=PRICE_CLOSE; //---- RSI parametersinputint RSIPeriod=14; inputENUM_APPLIED_PRICE RSIPrice=PRICE_CLOSE; //---- ADX parametersinputint ADXPeriod=14; //---- wave smoothinginput Smooth_Method bMA_Method=MODE_JJMA; // Averaging methodinputint bLength=5; // Smoothing depth inputint bPhase=100; // Smoothing parameter // for JJMA it varies within the range -100 ... +100 and influences the quality of the transient process;
- Indicator Visualization Settings:
//---- indicator display settingsinputuint SignalBar=0; // Bar number for getting a signal (0 - current bar)inputstring Symbols_Sirname=INDICATOR_NAME"_Label_"; // Indicator labels namesinputcolor Upsymbol_Color=clrLimeGreen; // Uptrend symbol colorinputcolor Dnsymbol_Color=clrMagenta; // Downtrend symbol colorinputcolor IndName_Color=clrDarkOrchid; // Indicator name colorinputuint Symbols_Size=60; // Signal symbols sizeinputuint Font_Size=10; // Indicator name font sizeinputint X_1=5; // Horizontal name offsetinputint Y_1=-15 // Vertical name offsetinputbool ShowIndName=true; // Display the indicator nameinputENUM_BASE_CORNER WhatCorner=CORNER_RIGHT_UPPER; // Location cornerinputuint X_=0; // Horizontal offsetinputuint Y_=20 // Vertical offset
- Alert and Audio Signal Settings:
//---- alerts settingsinput ENUM_ALERT_MODE alert_mode=OnlySound; // Triggering optioninputuint AlertCount=0; // Number of alerts
If you plan to use multiple BinaryWave_HTF_Signal indicators on the same chart, make sure each one has a unique Symbols_Sirname value (indicator label name) to avoid confusion.
Don't forget, this indicator relies on the compiled indicator file BinaryWaveSign.mq5. You'll need to place it in your <terminal_data_folder>\MQL5\Indicators\ directory.
Fig.1. BinaryWave_HTF_Signal. Signal of trend continuation
Fig.2. The BinaryWave_HTF_Signal indicator. Signal for trade
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